Private equity firm makes majority growth investment in Carlsbad field-management app

Carlsbad, California, September 12, 2025

News Summary

A private equity firm has completed a majority growth investment in a Carlsbad-based construction field-management software provider that serves more than 4,500 firms and over 70,000 users across North America. The deal injects capital and operational support to expand product capabilities—like daily reports, time cards and safety management—while accelerating sales and customer success. The incumbent CEO will remain in place and two representatives from the investor will join the board. The funding is intended to broaden integrations, speed enterprise adoption and continue supporting small contractors with a field-first mobile experience.

Sverica Capital Makes Majority Growth Investment in Raken, Backing Carlsbad Construction Field-Management Platform Used by 4,500+ Firms

What happened: A private equity firm has completed a majority growth investment in a Carlsbad, California–based construction field-management software company. The platform is currently used by more than 4,500 construction firms and over 70,000 field and office users across North America.

Why it matters

The deal signals continued investor interest in construction technology as the industry pushes to digitize field workflows. The company’s mobile-first platform focuses on replacing paper-based daily reporting, time tracking and safety documentation with connected, real-time tools that move information from the jobsite to the office quickly and reliably. That kind of real-time data flow can help contractors cut administrative time, reduce risk and keep projects aligned with budgets and schedules.

Company and product overview

The Carlsbad firm, founded in 2013, offers a mobile and web-based construction field management platform used by general contractors, subcontractors and specialty contractors. Core products include Daily Reports for real-time site documentation, Time Cards for tracking labor hours and production data, and Safety Management for checklists and incident reporting. Other capabilities include resource scheduling, project insights and real-time communication between field and office.

The platform is described as field-first and easy-to-use, emphasizing a simple mobile experience, integrations with other systems, and hands-on customer support. It supports daily reporting, safety compliance, planning, budgeting and scheduling—functions contractors prioritize when moving from point tools toward broader, interoperable platforms.

Deal specifics and leadership

The investor is positioned as a private equity firm that targets North American companies with annual EBITDA under $20 million and enterprise values under $250 million. The investor typically takes an active, operational role in portfolio companies, allocating internal resources to accelerate growth and reinvest in product development. A recent fund close gave the firm additional capital to pursue software and technology opportunities.

Leadership at the software company will remain in place following the transaction. The chief executive will continue to lead the business while representatives from the investor will join the company’s board to support scaling, product development and market expansion. The investor has said it plans to reinvest in the company and help launch new product features aimed at broadening the field management platform.

Market context

The construction software sector has been a fast-growing area for investors and entrepreneurs as firms look to modernize operations. Between 2020 and 2022, more than $50 billion flowed into architecture, engineering and construction technology, an increase of roughly 85% versus the prior three-year period. Most industry participants plan to maintain or grow their tech budgets, driven by labor shortages, infrastructure demand and rising expectations for project transparency.

Key trends include a shift from single-point tools to broader platforms that combine scheduling, productivity, safety and compliance. Demand for interoperability is rising so systems can share data more easily. At the same time, adoption challenges remain: many contracting firms are small, carry limited IT resources and rely on legacy paper processes. Market maturation will likely hinge on improving usability, integration and the ability to deliver measurable operational gains.

What this means for contractors and vendors

• Contractors may see accelerated feature development and deeper integrations that help scale field-to-office workflows.
• Vendors in the space are likely to face continued consolidation as providers broaden capabilities to serve enterprise and midmarket customers.
• Investors remain focused on software companies that can convert manual workflows into repeatable, platform-driven revenue while demonstrating measurable time and cost savings for users.

Background facts

The software company was founded in 2013 and is headquartered near San Diego. The platform serves contractors across North America and highlights features such as daily progress reporting, time and production tracking, safety and quality management, and workforce management. The investor emphasizes a collaborative, business-builder approach and a history of backing companies in technology, business services, software, healthcare and advanced industrials.

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FAQ

Key Features at a Glance

Feature	What it does	Why it matters
Daily Reports	Real-time site documentation and progress tracking.	Reduces paperwork, improves record keeping and supports faster decisions.
Time Cards	Tracks labor hours and production data by worker and task.	Enables accurate payroll and productivity measurement.
Safety Management	Checklist completion, incident reporting and compliance tracking.	Helps reduce incidents and supports regulatory documentation.
Resource Scheduling	Assignment and planning for crews and equipment.	Improves utilization and reduces idle time.
Project Insights	Dashboards and analytics for field data.	Turns daily field data into actionable management information.
Real-time Communication	Field-to-office messaging and updates.	Keeps teams aligned and reduces information lag.

Note: This article summarizes transaction and product details as reported by the companies involved and places the deal in current market context. It is intended to inform readers about the investment and its likely implications for contractors, vendors and investors in construction technology.

Deeper Dive: News & Info About This Topic

Additional Resources

• Business Wire: Sverica Capital Management Announces Strategic Growth Investment in Raken
• Wikipedia: Construction management
• PE Professional: Sverica Capital Management makes growth investment in construction software firm Raken
• Google Search: Sverica Capital Management Raken
• PEHub: Sverica invests in construction industry software provider Raken
• Google Scholar: Raken construction software
• PEHub: Ariel Alternatives buys Groome Industrial Service Group; Rhone Group to acquire Copperweld Bimetallics from Kinderhook
• Encyclopedia Britannica: Private equity
• Business Wire (2020): Sverica Capital Management Announces Strategic Investment in DeFY Security
• Google News: Sverica Capital Management DeFY Security